Coinbase Japan is now offering trading for tez (XTZ), the native token of the Tezos blockchain, increasing the presence of Tezos in a key Asian market. The markets for tez (XTZ) on Coinbase Japan went live this week. The launch will allow anyone to easily trade tez (XTZ) using their desktop or mobile devices.
Founded in 2012 and now active in more than 100 countries, Coinbase ranks among the most user-friendly, best-established centralized exchanges in crypto. Coinbase has been serving the Japanese market since the launch of Coinbase Japan in August 2021.
The Japanese crypto market has seen growth in recent years. An October 2022 Chainalysis report found that Japanese crypto trading volumes more than doubled from the year July 2020-June 2021, to July 2021-June 2022.
Tezos is a blockchain network and smart contract platform that has grown in popularity, especially among artists and for NFT applications. Using Tezos, developers can create decentralized applications (lending apps, decentralized exchange apps, and much more). Tezos is best known as the “self-amending blockchain.” for its ability to seamlessly upgrade. To date, Tezos has self-amended 11 times, with a 12th upgrade expected to happen mid-December, 2022. Tezos’ self-amending nature is possible due to its on-chain governance mechanism which allows network participants to propose and vote on upgrades and changes to the protocol. Through this process, network participants have an active say in future decisions about how Tezos should evolve.